Thriller Options

Decision dayStatement at 2:00

Robinhood SPY $770.13 versus Tuesday close $769.66. Under the open. The statement has not printed. SPY $770.13 · QQQ $721.69 · DIA $523.77 · USO $166.79.

Session · Wed 10:01am ET · Robinhood · cash session · not the close

Wed · Oct 28

Statement 2:00. Warsh 2:30. Not printed.

—

SPY · Wed 10:01am ET

$770.13

Tuesday close $769.66 · range $769.25–$771.70

Session · Wed 10:01am ET · Robinhood · cash session · not the close

  1. 9:30

    Open

    Wait

  2. 10:00

    Sentiment

    Wait

  3. 16:00

    Close

    Wait

  4. 28th

    FOMC

    Wait

FOMC state

CASH

Wednesday cash is the tape. The statement has not printed.

Next catalyst

Oct 28 · 2:00

Sentiment printed 48.0. Decision is Oct 28.

Countdown

—

To the Oct 28 statement

Current target

3.75–4.00%

Sep 16 · 12–0 hike

Oct 28

Hold 74% · hike 26%

OIS snapshot, not CME. Oct 12. Implied +7bp.

December

4.25% implied

OIS funds on Dec 31. Curve table stamped Oct 9. Not CME.

Desk bias

Neutral → hawkish risk

Map, not an order. Oct hold. Dec hike.

Data status

STAMPED

Robinhood last trade

Last refresh

Live

Wed Oct 28 · 10:01am ET · Robinhood

SPY last valid

$770.13

Wed 10:01am ET · clock off · STAMPED

FOMC decision engine · dbot-fomc-1.3.0

Three scores. Combined only here, and a missing score is left empty. It is not filled with zero.

Policy fundamentals

—

HTML not verified. No policy score.

Market pricing

—

CME FedWatch only. Not connected.

Market confirmation

—

Needs a frozen 1:59:59 baseline. That freeze was missed.

Final layer

— NO SIGNAL

The official HTML is not verified yet. No policy score is shown. No trading signal.

Families with an input: 0 of 3. Confidence 0.0% is that coverage, not a probability.

CME market-implied vs DBOT model

CME market-implied

Not connected

CME FedWatch is an OAuth REST feed. No API ID is saved, so market-implied odds stay empty. Reuters and the minutes are not a substitute, and the public website is not scraped.

Gap versus DBOT: cannot compute. The parser does not write this column.

OAuth for the FedWatch REST feed. The password stays on the server. A rejected ID does not get filled with Reuters.

DBOT model · policy only

October hike likelihood —

December hike likelihood —

October likelihood = 1 / (1 + e^−((policy − 80) / 30)). December = 1 / (1 + e^−((policy − 10) / 40)). Policy is the minutes lexicon when the HTML is verified, otherwise the pre-parse rubric. Not CME FedWatch.

Not run until the official HTML verifies. The rubric is a different scale and is not shown as a probability. Not a futures price.

Last week’s odds clocks are off this card. The live odds line is the Oct 12 OIS snapshot: 74% hold, 26% hike. Not CME FedWatch, and not an input to the minutes score.

Document validation

MINUTES SOURCE NOT VERIFIED

MINUTES SOURCE NOT VERIFIED. No trading signal is generated.

Domain
federalreserve.gov
Meeting
2026-09-15 / 2026-09-16
Release
2026-10-07 14:00 ET
Last-Modified
Tue, 03 Nov 2026 19:35:37 GMT
SHA-256
0f2e0c37b323f186
Status
unverified
  • Page does not carry the October 7, 2026 release date
  • Release header is not October 7, 2026

News copy is not the primary text. The PDF fallback is not wired. A failed check does not fall through to a headline.

Fed information set · September 16

  • All participants supported the 25bp hike to 3.75–4%.
  • Inflation remained elevated. Almost all saw inflation risks to the upside.
  • Medium- and longer-term expectations were consistent with 2%.
  • Labor was close to maximum employment. Risks were broadly balanced.
  • Most participants: another increase would likely be appropriate by year end. Not an October commitment.
  • SEP median for 2026 is 4.1%. June’s year-end 2026 median was 3.8%.

This week · not inside those minutes

Not scored as if the September minutes reacted to it.

  • Wednesday Oct 28. Cash is open. The statement has not printed. No 10-year on this Robinhood tape.
  • USO $166.79 at 10:01am, +1.78% vs Tuesday $163.88. Robinhood. Not Brent.
  • CPI is out: 3.7% YoY, core 2.6%. PPI +1.3% m/m, +6.3% YoY. Sentiment final 48.0.
  • Oct 12 OIS: 74% hold, 26% hike. Not restamped. Not the CME page.

Attribution ledger · dbot-lex-1.2

Statement rubric

+55

Different scale. Not subtracted from the lexicon.

September lexicon

—

unverified

Vs July, same lexicon

—

July +18.9. This is the only surprise.

No sentences scored. Quantifiers stay distinct: one, a couple, several, many, most, almost all.

Pre-event baseline · missed

No 1:59:59 print was captured.

Recorded on this browser when the book opens. That clock is not rewritten to 1:59:59. Prices, VWAP, gamma, and FedWatch were not backfilled.

    Frozen rubric distribution

    Stored once. Not overwritten by the minutes. Not comparable to the lexicon.

    • Dovish surprise0.2%
    • Mixed / expected8.1%
    • Hawkish43.3%
    • Very hawkish48.4%

    Lexicon migration · July → September

    Same function. This is the migration. The rubric is not a starting percent.

    Waiting on both lexicon scores.

    Confirmation · not the clock

    NO SIGNAL

    PRE EVENT · Before 2:00:00. Baseline is not frozen.

    Baseline freezes at 1:59:59. The morning tape is not the first move.

    Reversal detector is armed and dark. First move failed, hawkish first move rejected, and dovish reversal developing need a real first move, then a persisted turn. None of that has a baseline to measure.

    • SPY vs event VWAPNo tick

      No 14:00:00 freeze. VWAP is not stored.

    • QQQ vs SPYNo tick

      No post-release pair.

    • 2-yearNo tick

      No Wednesday 2-year print.

    • DollarNo tick

      DXY is not on this tape.

    • 10-yearNo tick

      12:18 Yahoo print is before the release. Not an event reaction.

    • 773 after the releaseNo tick

      Session low tagged 773 before 2:00. That is not the event test.

    • CME FedWatchNo tick

      API not connected. The minutes parser will not fill this check.

    Delayed tape · not confirmation

    • SPY 761.38

      2026-11-11T19:05:22.000Z · Yahoo Finance · not an exchange feed. Not versus the freeze.

    • QQQ 693.80

      2026-11-11T19:05:19.000Z · Yahoo Finance · not an exchange feed. Not versus the freeze.

    • 10-year 5.00

      2026-11-11T18:50:14.000Z · Yahoo Finance · not an exchange feed. Not versus the freeze.

    • Dollar 102.93

      2026-11-11T18:55:22.000Z · Yahoo Finance · not an exchange feed. Not versus the freeze.

    • Gold 3996.00

      2026-11-11T18:55:15.000Z · Yahoo Finance · not an exchange feed. Not versus the freeze.

    • Brent 93.45

      2026-11-11T18:55:15.000Z · Yahoo Finance · not an exchange feed. Not versus the freeze.

    Trading bias · not an order

    No trading signal. The minutes source is not in, or it failed validation.

    The parser does not short SPY. It does not buy calls. A bias is a map of the text against an empty tape.

    Event log on this browser: 0 snapshots. Model version is stored with each row. This is not a backtest.

    Wednesday · the session

    Cash is open. Flat versus Tuesday. Under the open. USO is bid. The statement has not printed.

    • 10:01 · QQQ

      $721.69 · +0.06%

      Tuesday close $721.25. Range $720.30–$724.73. Under the open.

    • 10:01 · SPX / NDX

      7,728.97 · +0.08%

      Nasdaq 100 29,679 · +0.09% vs Tuesday 29,651.44

    • 10:01 · SPY

      $770.13

      Open $771.43 · high $771.70 · low $769.25 · Tuesday $769.66

    Robinhood cash session, not the close. VIX 17.49 versus Tuesday 17.52. Quotes for RUT aren't available through the MCP. You can find RUT quotes in the Robinhood app.

    Session · Wed 10:01am ET · Robinhood · cash session · not the close

    Reference prints · not CME FedWatch

    74 / 26

    Oct 12 OIS snapshot. Hold 74%, hike 26%, implied +7bp. December 31 implied funds 4.25%. Not the CME page. Older clocks from last week are off this card.

    Stale · Oct 12 · OIS snapshot · not the CME webpage · not restamped after CPI

    September dots vs a derived December rate

    2026

    4.1%

    2027

    4.1%

    2028

    3.9%

    2029

    3.6%

    Long run

    3.2%

    Derived Dec rate 4.14% · median dot 4.1% · gap -4 bp

    Gap = Fed median minus the midpoint-weighted 11:10 buckets. Negative means the reconstruction is slightly more hawkish than the dot. Not a CME implied rate.

    • Unchanged 3.75–4.00 · 14.3% · mid 3.875
    • +25bp 4.00–4.25 · 67.8% · mid 4.125
    • +50bp 4.25–4.50 · 18% · mid 4.375

    Snapshot · Sep 16 SEP · Federal Reserve SEP · not today’s odds

    What the Fed knew then · what changed since

    Sep 15–16 · in the minutes

    • Unanimous hike to 3.75–4.00%.
    • 12 of 18 saw one more 2026 hike. Median dot 4.1%.
    • SEP: growth 2.3%, unemployment 4.1%, core PCE 3.4%.
    • July core PCE 3.3% was the last inflation print they had in that meeting.

    This week · not inside those minutes

    • USO $166.79 at 10:01am, +1.78% vs Tuesday $163.88. Not Brent.
    • CPI is already out at 3.7% YoY. Core 2.6%. PPI +1.3% m/m, +6.3% YoY. Sentiment 48.0.
    • SPY $770.13. QQQ $721.69. DIA $523.77. The statement has not printed.

    Treasury curve · mixed clocks

    • 2-year4.79%Oct 6 · Not Wednesday
    • 5-year—— · Not on this tape
    • 10-year5.31%12:18pm ET · Yahoo · delayed
    • 30-year5.71%Morning · Reuters snapshot · not noon

    2s10s is not a same-day spread. The stored curve is not today’s yield. There is no 10-year on this Robinhood tape. 5s30s is blank.

    Stale · Not today · Not a Robinhood quote · do not restamp an older yield as today

    Oil and inflation pressure

    Score withheld

    Gasoline, natural gas, copper, gold, and breakevens are not on this tape. A 74/100 would be invented.

    • USO$166.79 · Wed 10:01am ET
    • Bid / ask$166.79 / $166.80

    Robinhood. USO holds short-term WTI futures. It is not Brent and it is not the barrel. Wednesday 10:01am $166.79, +1.78% vs Tuesday $163.88.

    Session · Wed 10:01am ET · Robinhood · cash session · WTI futures ETF · not Brent

    Tape · what is not on it

    SPY

    $770.13

    Low 769.25 · +0.06% vs Tue

    STAMPED · Wed 10:01am ET · clock off

    QQQ

    $721.69

    +0.06% vs Tue $721.25

    STAMPED · Wed 10:01am ET · clock off

    SPX

    7,728.97

    +0.08% vs Tue 7,722.60

    STAMPED · Wed 10:01am ET · clock off

    10-year

    —

    Not a Robinhood quote

    STALE · Not today · clock off

    USO

    $166.79

    +1.78% vs Tue $163.88

    STAMPED · Wed 10:01am ET · clock off

    USO

    $166.79

    Ask $166.80 · Tuesday close $163.88

    STAMPED · Wed 10:01am ET · clock off

    VIX

    17.49

    −0.03 vs Tue 17.52

    STAMPED · Wed 10:01am ET · clock off

    SPY, QQQ, DIA, IWM, and USO are Robinhood cash prints from Wednesday 10:01am. SPX, NDX, VIX, and DJX are Robinhood index values from that minute. Quotes for RUT aren't available through the MCP. You can find RUT quotes in the Robinhood app. Brent cash is not on this feed.

    Cross-asset · only what is stamped

    • No 10-year on this Robinhood tape. An older yield is not today’s yield.
    • SPY +0.06% and QQQ +0.06% vs Tuesday. DIA +0.09%. Low on SPY was $769.25.
    • USO $166.79, +1.78% vs Tuesday $163.88. Not Brent.
    • 2-year, DXY, and gold — blank. No 6/7 score.

    Levels that stack

    Oct 12 walls were 775 / 776 / 780. They are not today’s book.

    Last valid 770.13 is the 10:01am print, not the close. Low is 769.25. Tuesday close is 769.66. No dollar GEX.

    GEX · two books, both morning

    775 / 780

    Aggregate SPY, all expiries, GEX Metrix, $B per 1% at heavy strikes. Flip 773, put wall 780, call wall 785. Positive gamma in that snapshot means compression was the morning regime — not a noon promise.

    0DTE is not this dollar book. 0dteclose at 8:45am ET: put wall 775, call wall 780, max pain 778. No 0DTE dollar GEX is stored.

    Stale · Mon 8:45am · Monday walls · put 775 · call 780 · pin 776 · not today’s book

    Expected move · 0DTE straddle only

    ±$4.45

    0.57% of a 775.98 spot at 8:45am ET. 0dteclose · CBOE delayed OI. This is not a live into-4pm implied move, and it is not ±0.85%.

    Realized vs that straddle, and IV crush, stay blank until the close. Oct 28 event move is not on this tape.

    Stale · 8:45am ET · 0dteclose · CBOE delayed OI

    Grok · this briefing only

    Ask Grok about this tape.

    Grok already has Wednesday’s Robinhood print: SPY $770.13, low $769.25, Tuesday close $769.66. Flat versus Tuesday. USO is bid. The 2:00 statement has not printed. It will not tell you to buy, sell, or size.

    SPY · Wednesday session$770.13Low $769.25 · Tue $769.66

    SessionSPY $770.13VIX 17.49 · Oct 12 0DTE walls · not today's book

    Your pathnone lockedOptional. Tap a path on the desk.

    Start with the tape

    12 left · Enter sends · map, not an order

    Where markets sit · Wed Oct 28 · 10:01am ET · Robinhood · tap a cell

    Where the stamp sits · Wed Oct 28 · 10:01am ET · Robinhood

    Flat vs Tuesday · USO bid

    Robinhood 10:01am. SPY $770.13. QQQ $721.69. DIA $523.77. USO $166.79. Tuesday close is the baseline. The statement has not printed. Quotes for RUT aren't available through the MCP. You can find RUT quotes in the Robinhood app.

    Names · 8:00am ET globex · tap a name

    SPX 7,728.97 +0.08% · 10:01amNDX 29,679 +0.09% · 10:01amDJX 524.53 +0.14% · 10:01amVIX 17.49 −0.03 · 10:01amUSO $166.79 +1.78% · 10:01am10-year — Not a Robinhood quote

    Today · decision day

    Statement at 2:00. Not printed.

    SPY $770.13 at 10:01am — range $769.25–$771.70. Tuesday close $769.66. SPY $770.13 · QQQ $721.69 · DIA $523.77 · USO $166.79. Under the open. The decision has not printed.

    Next: 2:00 FOMC · stamped session

    SPY 770.13

    Tuesday close 769.66. Low 769.25. High 771.70. 10:01am stamp · statement not printed. SPY $770.13 · QQQ $721.69 · DIA $523.77 · USO $166.79.

    Wire · 4:00pm close

    DIA bid. CPI is out.

    1. Tape · 10:01SPY $770.13

      Robinhood cash. +0.06% vs Tuesday $769.66. QQQ $721.69. DIA $523.77. IWM $280.61. Under the open.

    2. Oil · 10:01USO $166.79

      +1.78% vs Tuesday $163.88. The ETF, not the barrel.

    3. Odds · Stale74 / 26

      Oct 12 OIS. Not restamped. Not the CME page.

    4. Next · TodayFOMC 2:00

      Statement has not printed. Warsh at 2:30. No dots. GDP and PCE Thursday.

    Session · Wed Oct 28 · 10:01am ET · Robinhood cash

    Robinhood cash. Flat versus Tuesday. USO bid.

    Session print, not the close. USO is the WTI futures ETF, not Brent. The statement is at 2:00 and has not printed. Tap a contract.

    Indexes bidCommodities oil bid

    Indexes · vs prior settle

    Commodities · still the tape

    3D desk · drag to orbit

    Globex. Tower. The path.

    Bars overnight %

    Tower 775 · 776 · 780

    Ribbon to Nov 3

    The cube

    Three faces. One week.

    Cash closed. CPI 3.7% is out. Oct 28 is the decision. The vote is Nov 3.

    Print board · Wed Oct 28 · 10:01am ET · Robinhood cash

    CPI and PPI are out.

    CPI was 3.7% YoY. PPI was +1.3% m/m. The Oct 12 74% hold is not tonight’s price. No 10-year on this Robinhood tape. USO $166.79 at 10:01am, +1.78% vs Tuesday. Robinhood. Not Brent.

    Horizon · time left

    CPI, then Oct 28

    2:0048h 00m

    Inner 2:00 minutes48:00:00

    Outer Oct 2816d 0h

    The two props

    Oil × 10-year

    USO $166.79 at 10:01am, +1.78% vs Tuesday $163.88. There is no 10-year on this Robinhood tape. Friday’s 5.24% is not today’s yield. The cross is the WTI ETF only. Not Brent.

    10y high10y lowcheap$110
    WTI $90+10y 5.24%

    Overnight orbits · tap a window

    Minutes · Oct 28 · December.

    Options vs globex · Wed Oct 28 · VIX 10:01am ET · Robinhood

    S&P +0.06% at 10:47am. October hold is 74%. SPY 0DTE straddle was ±$3.11 at 8:45am. The Oct 28 implied move is not on this tape.

    VIX 17.49 (−0.03 vs Tue 17.52) and the curve is vix 17.49 — not panic. Gamma Oct 12 0DTE walls · not today's book. Put wall 780, call wall 785, flip 773. CPI on Wednesday is the whip. VIX is 15.28. The rest of the curve is not on this tape.

    Implied window vs what already printed · tap a layer

    October odds, not a stale expiry window

    VIX curve · VIX 17.49 · tap a tenor

    0.00 → 17.49 → 0.00

    VIX 17.49 is Tuesday’s close. Other tenors are not a Wednesday print.

    Dealer gamma · Oct 12 0DTE walls · not today's book · tap a wall

    Long gamma. Spot is under the put wall.

    Oct 12 book, not today’s: flip 775, put 775, call 780, max pain 776.

    Heavy strikes · $B per 1% · tap

    • SPY

      775 / 780

      +0.0B

    • SPX

      7800 / 7850

      +0.0B

    • QQQ

      742 / 755

      +0.0B

    ATM IV · high-beta vs the index · tap a name

    NVDA is less than 1% lower. QQQ is the offered book.

    SPY 15.6% (IVP 54). QQQ 19. NVDA 34 — low rank. TSLA 33.7 (IVP 34). Globex bid the names. Options did not reprice a crash.

    Wednesday session · Robinhood · tap a level

    Under the open. Flat vs Tuesday.

    Open $771.43. Low $769.25. High $771.70. Last $770.13. Tuesday close $769.66. Oct 12 walls are not this book. No dollar GEX. The statement has not printed.

    What’s left

    CPI is out. Decision Oct 28.

    September already hiked to 3.75–4.00%. October is 74% hold on the Oct 12 snapshot. That snapshot is not restamped.

    Tuesday

    Close

    SPY $769.66 is the official close. The baseline, not today’s print.

    10:01

    Cash

    DIA $523.77, +0.09%. SPY $770.13. QQQ $721.69. Not the close.

    Today

    2:00

    FOMC statement. Warsh at 2:30. It has not printed. No dots.

    SPY 770.13High 771.70Flip 775Wall 775

    Past

    Mon

    Mon Oct 26

    Tap a print for the read.

    Closed

    Tue

    Tue Oct 27

    Tap a print for the read.

    3.7% out

    CPI

    Wed Oct 14

    Tap a print for the read.

    Out

    PPI

    Thu Oct 15

    Tap a print for the read.

    48.0 out

    Fri

    Fri Oct 23

    Tap a print for the read.

    2:00

    Today

    Wed Oct 28

    Tap a print for the read.

    September hiked to 3.75–4.00%. CPI printed 3.7% on Wednesday. PPI printed +1.3% today. The Oct 12 OIS 74% hold is not tonight’s price.

    For SPY, watch two numbers

    775 is the put wall. 780 is the call wall.

    Tuesday close $769.66. Session $770.13. Low $769.25. Oct 12 call wall 780 is not today’s book. The statement is at 2:00. It has not printed.

    SPY ruler · Wed Oct 28 · 10:01am ET · tap a level

    770.13 under the 780 put wall

    Tue close 769.66 · low 769.25 · flip 775

    NOW 770.13

    Session print $770.13. Wednesday close $769.66. Session low $769.25 tagged the 775 flip. Put wall 775. Call wall 780. The 8:10am gamma book is a snapshot.

    If this, then that

    Three paths into Wednesday. Tap the one that matches CPI.

    A map, not a recommendation. CPI 3.7% is out. FOMC Oct 28.

    Charts · Wed Oct 28 · 10:01am ET

    SPY into CPI

    Put wall 775, pin 776, call wall 780. Session print 770.13. Ice = inside the walls. Red = hot CPI. Silver = reclaim 780.

    How to see this tape

    Five pictures. Same FOMC path.

    Bullet = where the odds sit. Slope = who is offered. Fan = CPI. paths. Dots = the map. Waffle = days to the vote.

    Bullet · the odds · tap a print

    Hold is 74%. CPI is Wednesday. Nasdaq is offered.

    Ice tick = consensus · silver dot = prior · red band = surprise

    Slope · this morning vs SPY

    Tuesday close → this morning.

    Tue close = 100Session

    NVDA is less than 1% lower. MU, AMD, and SPCX are offered. PENG is the bid. Dashed ice is SPY.

    Fan · first session · tap a path

    Soft under 780. Lose 773. Reclaim and press 785.

    TueOpenLowHighNow780773

    Ice = hold priced, 773–780. Red = lose the flip. Silver = reclaim 780 and press 785.

    Dot plot · SPY map · tap a level

    One scale. Every level. Now is the tick.

    Session print $770.13. Low $769.25. Wednesday close $769.66. Flip 775 is the 8:10am book. Session low tagged it.

    Waffle · from today · tap a square

    Today, then Oct 28, then the vote.

    Each cell = 1 day

    This week Oct 28 Path Nov 3

    SPY level map · tap a strike

    Flip 773. Put wall 780.

    Session print $770.13. Low $769.25. Wednesday close $769.66. Spot is under the put wall. 767 if the flip fails.

    SPY path · Tuesday close into 10:01

    Session print $770.13. Low $769.25. Lines are the 775 put wall and the 780 call wall.

    Trade here while we CHOP!

    45 seconds. CPI drill.

    Hold, hike, or a fake first tick. Buy, sell, flatten. First tick often lies. B buy · S sell · F flatten · Esc cancel.

    Pre-open

    770.13

    CPI drill. Trade the vol, not a forecast.

    Idle

    +0.00

    Best 0.00

    Wire is dark until you start.

    You

    You’re flat. No risk.

    Time & sales

    • —

    Practice tape, not a live order. Not today’s cash print.

    Process · not a call

    Today’s game plan

    September already hiked to 3.75–4.00%. CPI, PPI, and sentiment are out. Today is the statement. It has not printed. October hold is the Oct 12 74%, not a fresh print.

    Today · Oct 28

    What’s on the tape

    Cash is open. SPY $770.13 vs Tuesday $769.66. Statement at 2:00 has not printed.

    If this prints

    Match the ending, then use the ranges

    • 01 Don’t trade the first tick of CPI.
    • 02 773 is the flip. 780 is the put wall.
    • 03 October hold is priced. December is the hike.
    • 04 Don’t size a CPI read like the Oct 28 decision.

    This is a process map for windows and size, not a recommendation to buy or sell any security.

    Through Nov 3 · Wed Oct 28 · 10:01am ET · Robinhood

    The market does a W. Not a straight line.

    From this morning to the vote, then the December dots. Minutes at 2:00. Decision Oct 28. CPI and the banks in between. Tap a week.

    Expected shape · W-shaped vol

    Multiple swings · not a trend

    HighLowNOW

    Oct 28

    FOMC decision· this week

    Statement 2:00pm. Warsh 2:30pm. No dot plot. It has not printed. The Oct 12 OIS snapshot was 74% hold. It is not restamped.

    The statement is later today. 74% is a hold, not a promise. Do not invent the decision.

    Central path we’ve built

    Three vol spikes. Then Nov 3.

    • CPI / PPI

      Out

      CPI 3.7% on Oct 14. PPI +1.3% m/m and retail +0.8% on Oct 15. Not still ahead.

    • Sentiment

      48.0 out

      UMich final Friday. September was 48.1. Preliminary was 46.3.

    • Tuesday

      Closed

      SPY $769.66 is the official close. No durable-goods number is on this tape.

    • Today

      Decision

      Robinhood 10:01am. SPY $770.13, +0.06% vs Tuesday. Statement at 2:00 has not printed.

    • After

      Oct 29

      GDP advance and September PCE, 8:30am. Not on this tape.

    Wed Oct 28 · 2:00pm ET

    74% hold. The hike is the surprise.

    September already hiked, unanimous, to 3.75–4.00%. October is 74% hold, 26% hike. No dots today. The Oct 12 book is 0DTE walls, not a dollar GEX. Put 775, call 780. Tap SPY, SPX, or QQQ.

    GEX maps · not a noon book

    Ice is long gamma. Brick is short.

    SPY +$7.4B per 1% is the 8:10am Metrix book, all expiries. Flip 773, put wall 780, call wall 785. Session low $773.61 tagged that flip. QQQ +$2.6B at 8:14am. SPX walls only — not dollars.

    Stale · Mon 8:45am · Monday walls · put 775 · call 780 · pin 776 · not today’s book

    Tap a cell. Today is the mass.

    BookAll exp.

    Long γ · dampens Short γ · amplifiesSPY Monday walls · put 775 · pin 776 · call 780 · not today’s book · spot 770.13 · flip 775

    The setup

    Hike is the surprise

    sells downbuys upNegative gamma amplifies the move

    What it means for the tape

    Funds 3.75–4.00% after a unanimous September hike. CPI was 3.7% YoY, core 2.6%. PPI was +1.3% m/m. Sentiment final 48.0. The Oct 12 OIS 74/26 is not today’s price. Robinhood 10:01am: SPY $770.13, Tuesday close $769.66. USO $166.79. The statement has not printed.

    The statement is this afternoon at 2:00. It has not printed. October can still hold and December can still hike.

    Step 01 · The book

    Oct 12 0DTE, 15-minute delayed, 8:45am ET. Not today’s book. SPY max pain 776, call wall 780, put wall 775. SPX max pain 7,790, call 7,850, put 7,800. QQQ max pain 751, call 755, put 742. No dollar GEX.

    Those walls are the Oct 12 snapshot. Wednesday’s print is SPY $770.13, still under the 775 put wall. The statement has not printed.

    Who takes the whip · 8:00am globex

    High-beta and the globex leaders.

    Prices as of 8:00am ET. These are the names the flow hits first — not a recommendation.

    MSTR

    crypto beta

    Same whip, no close print on the desk

    This week · Oct 28

    What’s on the clock

    Sentiment 48.0 is out. Cash is open. The statement is today at 2:00. September already hiked. October is 74% hold. Dots wait until Dec 8–9.

    1. 9:30

      Mon Oct 26

      Cash open

      High
      Cons.
      —
      Prior
      Fri $759.97
      —
      —

      Monday Oct 26 is past. Not today’s session.

    2. 8:30

      Tue Oct 27

      Tuesday · no print on this tape

      Low
      Cons.
      —
      Prior
      —
      —
      —

      Tuesday is closed. No durable goods, Case-Shiller, or new home sales number is on this tape. Tuesday’s cash close is the baseline: SPY $769.66.

    3. 8:30

      Wed Oct 14

      Out

      September CPI

      beatMax
      Cons.
      3.6% YoY
      Prior
      3.4%
      Print
      3.7% YoY

      Out. BLS Oct 14: +0.6% m/m, 3.7% YoY from 3.4%. Core +0.3% m/m, 2.6% YoY from 2.4%. Hot versus the 3.6% and 2.5% calendar.

    4. 8:30

      Thu Oct 15

      Out

      Retail sales

      inlineHigh
      Cons.
      0.8%
      Prior
      1.1%
      Print
      +0.8%

      Out. Census Oct 15: +0.8% m/m to $745.0 billion, +6.3% YoY. August revised to +1.3% from +1.1%. Gas-led. Ex autos and gas +0.2%.

    5. 8:30

      Thu Oct 15

      Out

      September PPI

      beatHigh
      Cons.
      5.3% YoY
      Prior
      5.4%
      Print
      +1.3% m/m

      Out. BLS Oct 15: final demand +1.3% m/m, +6.3% YoY. Less foods, energy, and trade +0.5% m/m, +5.0% YoY.

    6. 8:30

      Thu Oct 15

      Jobless claims

      Med
      Cons.
      —
      Prior
      —
      —
      —

      The clock has passed. The claims number is not on this tape. Do not invent it.

    7. 10:00

      Fri Oct 23

      Out

      Michigan sentiment

      inlineHigh
      Cons.
      —
      Prior
      48.1
      Print
      48.0

      Out Friday. University of Michigan final 48.0 from September 48.1. Preliminary was 46.3. Current conditions 46.7 from 50.9. Expectations 48.8 from 46.3. Year-ahead inflation 4.7% from 4.6%. Long-run 3.5% from 3.4%. Next release is Friday Nov 6, 10:00am ET.

    8. 2:00

      Wed Oct 28

      FOMC rate decision

      Max
      Cons.
      Hold 74%
      Prior
      3.75–4.00%
      —
      —

      Today. The statement has not printed. The Oct 12 OIS snapshot was 74% hold / 26% hike. It is not restamped. Not the CME page. No dot plot. Statement 2:00pm ET. GDP and September PCE are Thursday Oct 29 at 8:30.

    9. 2:30

      Wed Oct 28

      Chair Warsh press conference

      Max
      Cons.
      —
      Prior
      —
      —
      —

      2:30pm ET on Oct 28 only. September line: inflation has been too high for too long. No dots until Dec 8–9.